DeFi Hacker Andean Medjedovic Faces Federal Charges for $65 Million in Cryptocurrency Theft

OnChainSleuth · 2026-01-12T13:11:11+00:00

Federal prosecutors have charged 22-year-old Andean Medjedovic for breaching cybersecurity at Indexed Finance and KyberSwap, resulting in losses of about $65 million. His charges include fraud and money laundering, highlighting the rising threat to the decentralized finance sector.

OnChainSleuth

2026-01-12 13:11:11

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Federal prosecutors have filed charges against 22-year-old Andean Medjedovic in connection with two major cybersecurity breaches that resulted in significant losses across the decentralized finance sector. The hacker is accused of orchestrating attacks on two major protocols, collectively stealing approximately $65 million in digital assets.

The Indexed Finance Breach

Court filings reveal that Medjedovic was responsible for a 2021 exploit of Indexed Finance, through which he extracted roughly $16 million in cryptocurrency. This attack occurred in October 2021 and represented a major incident for the protocol at that time.

The KyberSwap Attack and Subsequent Activity

More recently, investigators attribute a November 2023 security breach of KyberSwap to the same individual. This incident proved substantially more damaging, with the decentralized exchange protocol and its user base suffering approximately $48 million in total losses. Following the KyberSwap compromise, roughly $2 million worth of cryptocurrency flowed into wallets that law enforcement officials believe are connected to Medjedovic.

Legal Charges and Implications

The US Department of Justice has brought five separate counts against Medjedovic, encompassing charges of fraud, money laundering, and extortion. These charges underscore the increasing sophistication of cybercriminals targeting the cryptocurrency ecosystem and the growing determination of federal authorities to pursue offenders across borders. As of Monday, Medjedovic has not provided any public response to inquiries about the allegations.

This case represents a significant development in the ongoing battle between law enforcement and those seeking to exploit vulnerabilities in DeFi protocols for financial gain.

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